South State Bank Deposit Agreement

The third option for South State Bank customers is an automated overdraft privilege. Customers who register their accounts in an automated overdraft privilege receive the fees for their insufficient resources from the bank up to a set limit. While the automated overdraft privilege covers fees for checks, bill payments, and recurring debit card transactions, it does not cover automatic and one-time debit card transactions or insufficient items resulting from automatic transfers. You can transfer money from an account in South State or another financial institution or top up your account via your debit or credit card. You can also pay at a later date and make a deposit via mobile deposits or at a branch after opening an account. In addition, there are complaints that banks try to process transactions that failed after the transaction was initially rejected several times. If a customer who has not opted for overdraft protection tries to make a purchase but does not have enough money in their account, the bank may refuse the transaction and charge a fee. Mobile deposits are limited to a total of 7500 USD per day. There is no limit to the number of cheques you can deposit until you exceed your total daily deposit amount. You can deposit personal or business checks payable in U.S. dollars, which are drawn by any U.S. financial institution or by the U.S. Treasury.

The cheque must be paid to and confirmed by the account holder. The result of a complaint filed by South State Bank is a transaction. The terms of the transaction may allow customers of banks affected by unfair overdraft rights to recover part of their expenses. The complainants stated that they had been promised that the $35 fee would only be collected for recurring withdrawals such as mortgage payments; However, the bank reportedly charged them for one-time purchases, from a gas tank to a cup of coffee, which drove up its profits. All consumers were among the class members in Bank of America`s overdraft count. While banks may charge overdraft fees for transactions that cover them, some consumers blame banks for violating their own pricing policies by imposing predatory fees. Pew Charitable Trusts indicate that many banks would deliberately rearrange the order in which transactions are processed. According to reports from customers of banks and credit unions in the United States, some financial institutions may apply predatory overdraft rules and customers may charge multiple overdraft fees for a single transaction. However, some customers say that their banks have repeatedly tried to re-process these transactions without the customer`s knowledge. These additional attempts to process failed transactions are also considered an overdraft fee, although many consumers claim that they did not allow the bank to process the transaction a second or third time. Some customers indicated that they did not discover the additional charges until they checked their bank statements.

Although many customers monitor their bank accounts by checking their account statements online, some customers have reported that these numbers are not always correct. Banks can include the amount a customer can recover in the “available credit” displayed on their account. . . .

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